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Suretrader is a branch of Swiss America Securities Limited. It is based in Bahamas. The company is placed 26th in Barron’s list of brokerage firms. It was founded in 2008.
In this SureTrader review, I’ll cover what SureTrader has to offer, who they’re right for, and give you guys some links to the latest SureTrader promotions. If you’ve used SureTrader before, please add your own rating and review below.
SureTrader – The Basics:
|Investments:||The range of investment products is a bit limited and the three options are ETFs, options and stocks. Although commissions are generally low, the firm charges other fees which are high (see below).|
|Commissions:||Commissions levied by Suretrader are some of the lowest in the country. For stocks and ETFs, the firm charges $4.95 per trade for 1000 trades. Every share thereafter is charged $0.00495. Commission for options is $4.95 and every contract is charged at $1. Options assignment or exercise is charged at $30 each. Inactivity fee is $50 quarterly if less than 15 trades are made in the duration. Margin or equity call fee is $25 per day. Wire outgoing charge is $100 and wire pre-pay is charged at $20.|
|Investor Education:||Very limited.|
|Mobile apps:||Apps for iPhone, iPod touch, iPad.|
Three trading platforms are available, Sure Trader 2.0, Sure Trader Pro and iSure Trader Mobile. Sure Trader 2.0 is free but for Sure Trader Pro, $49 is charged. Two kinds of accounts are available: Standard and Joint. Joint account can be opened for two individuals. The firm offers trading education. Referral bonus and different kinds of promotion codes are provided.
The minimum to open an account with SureTrader is $500. Apply for an account now.
Pros & Cons Of SureTrader:
How Others Rated SureTrader In 2012:
Barron’s: 2/5 Stars
Highest rated category: Usability
Lowest rated category: Range of Offerings
Smart Money: N/A (not rated)
Highest rated category: N/A (not rated)
Lowest rated category: N/A (not rated)
Word On The Street Is…
SureTrader offers low commissions on equities. Two major problems with the firm are very high margin rates especially for overnight holdings, and expensive customer support through phone since the firm is located in Bahamas and does not offer a toll free number. However, efficient and prompt service is offered through online live chat and emails.
Overall takeaway: Very usable brokerage, an OK pick for high frequency traders but not recommended overall.
SureTrader Promotion Code:
Where To Open A SureTrader Account:
Open A Personal/Joint/Custodial/Business Account With SureTrader: Apply Here
Open An IRA Account With SureTrader: Apply Here
Open A Forex Trading Account With SureTrader: N/A
P.S. Don’t forget, if you’ve used SureTrader before, please help us by adding your rating and review below!